Coca-Cola hikes earnings outlook, even as it sees lackluster demand in North America
Source: CNBC ·
Coca-Cola stock has climbed about 32% so far this year, raising the beverage company's market cap to roughly $398 billion.
From the source
Coca-Cola on Tuesday raised its full-year outlook for the third straight quarter, despite lackluster demand in its home market. For the full year, Coke now expects comparable earnings per share to grow at least 11%, up from its prior forecast of an increase in the range of 9% to 10%. The beverage giant also anticipates that its organic revenue will climb at least 5%, a slight increase from its previous outlook of approximately 5% growth. Shares of the company rose about 1% in premarket trading. Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting: Coke reported third-quarter net income attributable to shareholders of $4.01 billion, or 93 cents per share, up from $3.7 billion, or 86 cents per share, a year earlier. Excluding transaction gains and other items, Coke earned 91 cents per share. Net sales rose 7% to $13.4 billion. Coke's organic revenue, which strips out acquisitions, divestitures and foreign currency, also rose 7% in the…